Covenant Multifamily Offices LLC purchased a new position in shares of Boeing (NYSE:BA) during the fourth quarter, Holdings Channel reports. The firm purchased 3,721 shares of the aircraft producer’s stock, valued at approximately $1,097,000.
A number of other institutional investors and hedge funds have also bought and sold shares of BA. Janus Henderson Group PLC boosted its holdings in Boeing by 7,215.0% in the 2nd quarter. Janus Henderson Group PLC now owns 4,919,937 shares of the aircraft producer’s stock valued at $972,919,000 after purchasing an additional 4,852,679 shares during the last quarter. Jennison Associates LLC boosted its holdings in Boeing by 20.3% in the 3rd quarter. Jennison Associates LLC now owns 6,873,128 shares of the aircraft producer’s stock valued at $1,747,218,000 after purchasing an additional 1,160,859 shares during the last quarter. Koch Industries Inc. boosted its holdings in Boeing by 61,128.7% in the 2nd quarter. Koch Industries Inc. now owns 849,855 shares of the aircraft producer’s stock valued at $846,000 after purchasing an additional 848,467 shares during the last quarter. Stifel Financial Corp boosted its holdings in Boeing by 19,958.0% in the 3rd quarter. Stifel Financial Corp now owns 833,410 shares of the aircraft producer’s stock valued at $212,108,000 after purchasing an additional 829,255 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. boosted its holdings in Boeing by 28,537.7% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 782,669 shares of the aircraft producer’s stock valued at $198,962,000 after purchasing an additional 779,936 shares during the last quarter. Hedge funds and other institutional investors own 70.84% of the company’s stock.
In related news, CFO Gregory D. Smith sold 36,079 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $337.43, for a total transaction of $12,174,136.97. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.
BA has been the topic of several recent analyst reports. Sanford C. Bernstein boosted their target price on shares of Boeing from $402.00 to $422.00 in a report on Friday, February 2nd. Robert W. Baird set a $433.00 target price on shares of Boeing and gave the company a “buy” rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. Citigroup boosted their target price on shares of Boeing to $380.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Boeing from a “hold” rating to a “buy” rating and set a $330.00 target price on the stock in a report on Tuesday, January 2nd. Finally, Jefferies Group reiterated a “buy” rating and issued a $339.00 target price on shares of Boeing in a report on Monday, January 8th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Boeing presently has an average rating of “Buy” and an average target price of $365.55.
Boeing stock opened at $338.67 on Friday. Boeing has a 1 year low of $175.47 and a 1 year high of $371.60. The company has a market capitalization of $200,675.19, a PE ratio of 28.13, a P/E/G ratio of 1.76 and a beta of 1.39. The company has a current ratio of 1.16, a quick ratio of 0.37 and a debt-to-equity ratio of 23.74.
Boeing (NYSE:BA) last announced its earnings results on Wednesday, January 31st. The aircraft producer reported $4.80 earnings per share for the quarter, topping the consensus estimate of $2.91 by $1.89. Boeing had a net margin of 8.78% and a negative return on equity of 11,050.62%. The firm had revenue of $25.37 billion for the quarter, compared to the consensus estimate of $24.78 billion. During the same period in the prior year, the firm earned $2.47 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. research analysts forecast that Boeing will post 14.05 EPS for the current year.
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Boeing Company Profile
The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sales, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight, and launch systems and services worldwide. The company operates in four segments: Commercial Airplanes; Defense, Space & Security; Global Services; and Boeing Capital.
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